Breaking News

Tax reform was passed by Congress this week and is expected to be signed into law soon. Most of the new laws take effect for the 2018 and 2019 tax years, but there are a couple items that you need to know about right away for your 2017 taxes. Read article

Employees' ability to deduct unreimbursed expenses related to their job is going away under the new tax reform laws. Employers can consider reimbursing employees directly and deducting the cost from their business returns. Read article

As part of recent tax legislation, the IRS is now mandated to delay sending out some refunds to taxpayers beginning with 2016 tax returns. If impacted, you will need to plan for this delay. Read article

Recent Items

Taxpayers who are IRS identity thief victims have been long frustrated by their inability to see what thieves have filed under their Social Security Number. In a recent announcement, the IRS is now allowing taxpayers to obtain copies of these fraudulently filed tax returns. Read article

This newly proposed postcard-sized 1040 form replaces the old 2017 1040, as well as forms 1040EZ and 1040A. While some in Washington are celebrating the design as a simpler way to file, a closer look tells a different story. Read article

A U.S. Supreme Court ruling involving the state of South Dakota vs Wayfair (an online furniture retailer) opens the door for states to impose sales taxes on online retailers located outside their borders. This will have wide-reaching effects on small businesses and consumers. Here’s what you need to know. Read article

There is a lot of confusion on the topic of home equity loans following the passage of the Tax Cuts and Jobs Act (TCJA). The act changes the rules on whether the interest on these loans is deductible. So is it? Read article

The Tax Cuts and Jobs Act (TCJA) passed in late 2017 made big changes to the tax code, including individual tax rates. What should you do if you are self-employed or retired and pay your taxes on a quarterly basis? Read article

The Healthcare Marketplace allows open enrollment each year to obtain health insurance. If eligible, you may also receive a reduction in your insurance premium by use of a Premium Tax Credit. Should you apply the credit now or wait and receive the credit on your tax return? Here is what you need to know. Read article

Other Items

There are certain areas of the tax code that the IRS wishes to focus its auditors' attention. These areas are typically identified by the IRS development of an Audit Technique Guideline to train its staff. Here are some key audit areas of interest. Read article

On August 29th, the IRS issued IR 2013-72 that implements federal tax outcomes from the June 26 Supreme Court decision regarding the Defense of Marriage Act. Here is what you need to know. Read article